Its all depends on the condition of the boat, because there are different levels of aggressiveness with compounds. I have been trying a new company called "4 star products" ,which is a small local company in Tampa bay, and their products provide good cut and great shine. Their products maybe hard for you to find at a local store, but you can order
direct from the manufacturer . But if you want to go with the traditional route, you can't go wrong with 3m products. I used their products in the beginning and they work great, but they get pricey.
This is the sequence I use for the 4star compounds :
1. Gelcoat extra cut compound(GEC) with a wool compounding pad
2. Gelcoat fininshing compound(GFC) with a yellow foam pad. Most of the time the boat looks flawless here. But you may need to take it an extra step
3. Gelcoat finishing material(GFM) with a yellow foam pad.
Depending on the condition of the boat, you may need a step up on the the initial cut and start with the heavy cut paste(HCP) on a wool pad, or you may be able to get away with just the second step above. Every boat is different. You can look at 2 of the same boats that look like the same condition, but they may end up needing different treatments.
I will give you some advice on your baja, keep the colors waxed all the time. Baja is notorious for their colors fading quickly, and the reds and purples are a pain. I usually have to wet sand those 2 colors while the others buff right out.